secwatch.observer — SEC 8-K summary
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Issuer:     Crown Electrokinetics Corp. (—)
CIK:        0001761696
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001213900-23-017490
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Electrokinetics faces Nasdaq delisting; extends note maturity to April 2024, issues warrants
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- Nasdaq delisting notice on March 1, 2023 for failing bid price and $5M equity rule; equity was $2.746M as of Sep 30, 2022.
- Company will request a hearing before Nasdaq Hearings Panel to appeal, staying delisting pending process.
- Extended maturity of $5.4M senior secured convertible notes from Oct 18, 2023 to April 18, 2024 via waiver agreements.
- Issued warrants to purchase 5,813,414 shares at $0.32 per share as consideration for the waivers.
- Obtained waivers of participation rights, lower price issuance, and negative covenants to enable ATM offering and other transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1761696/000121390023017490/0001213900-23-017490-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1761696/000121390023017490/ea174588-8k_crownelec.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-017490

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